Statement I : The first coins to bear the names and images of rulers were issued by the Kushanas. Statement I : The first gold coins were issued by the Kushanas.

Statement I is false because the Indo-Greeks, not the Kushanas, were the first to issue coins in India bearing the names and portraits of rulers. These Indo-Greek coins featured Hellenistic portraiture and Greek legends, a tradition later adopted and modified by the Kushanas [1]. Statement II is true as Vima Kadphises is credited with introducing the first extensive gold coinage in India [1]. While some Indo-Greek rulers issued rare gold staters, the Kushanas were the first to issue gold coins on a large, regular scale, standardizing the gold dinar [2]. Since Statement I is historically inaccurate regarding the origin of portrait coinage, the correct option is 4. The Kushanas popularized the 'king on obverse, deity on reverse' motif, which influenced Indian numismatics for centuries.

Sources

1. [1] Exploring Society:India and Beyond ,Social Science-Class VII . NCERT(Revised ed 2025) > Chapter 6: The Age of Reorganisation > Invasions of the Indo-Greeks > p. 135
2. [2] https://igntu.ac.in/eContent/MA-AIHC-04Sem-DrJitendraJain-%20Ancient%20Indian%20Coinage-Unit1-4.pdf